Sunsuper spends c$107m for Collins Street office
AMP, representing Sunsuper, has paid c$107 million for Melbourne’s 330 Collins Street.
The 17-level renovated office, in which a previous owner found asbestos while undertaking what ended up being a costly renovation, includes 18,337 square metres of lettable area.
Much of the value is in the ground floor retail tenancies – on the north west corner of Elizabeth Street – like Collins, a busy, high-demand thoroughfare.
Based on the asset’s speculated annual income – $8.5m – it is trading on a circa eight per cent yield (story continues below).
Challenger Financial Services Group was the vendor.
